Brent crude oil breaks through $85, Middle East oil transportation risks intensify
Oil prices resumed their gains as concerns about oil supplies in the Middle East grew and the United States continued its crackdown on Iran. Global benchmark Brent crude rose above $85 a barrel, reversing earlier modest losses. In the previous three trading days, Brent crude oil prices rose by 12%. According to reports, Iran has told the Houthis in Yemen that it will block the Red Sea waterways if Iran's power infrastructure is attacked. The Red Sea waterway has become a vital lifeline for Saudi Arabia's oil exports at a time when Iran's war has disrupted oil shipments in the Strait of Hormuz. September Brent crude oil rose 1.0% to trade at $85.81 a barrel at 1:53 pm London time. August WTI crude oil was at $80.43 per barrel. Open a futures account on Sina's cooperative platform, safe, fast and guaranteed